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Xolo review

Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Xolo suits freelancers who want no monthly charge and a short list of currencies, though the charge on each withdrawal to a personal bank account gives pause. The monthly fee is €0 and the account covers 7 currencies, so the appeal sits in cheap everyday holding rather than wide currency reach.

Key facts

Best for
Freelancers who want a monthly fee of €0 and only a handful of currencies
Monthly fee
€0↗
Currencies
7↗
Local account details
IBAN↗
Transfer fee
5% plus 0.9% processing fee on each withdrawal to personal bank account↗
Legal entity
Xolo OÜ↗
Headquarters
Estonia↗
Founded
2015↗
Support channels
Email, Chat, Help-centre↗
Audience
Freelancers
Pricing model
No monthly fee
Official website
xolo.io

Facts checked September 26, 2026, 4 sources

Apps and profiles

Get the app
App Store
Elsewhere
LinkedInX

Pros and cons

Pros

  • Monthly fee is €0, so keeping the account open costs nothing
  • Built for freelancer, with iban details for receiving payments
  • Support covers email, chat and help centre
  • Holds 7 currencies, enough for a single market setup

Cons

  • A transfer fee plus a processing fee applies on each withdrawal to a personal bank account
  • Support runs on email, chat and help centre only, with no phone line in that mix
  • Currencies sit at 7, below the 5 for freelancer accounts

Ready to try Xolo?

Scored 8.9 / 10 by VaultCue.

See alternatives

Who it suits

  • Freelancers billing in a single currency who want no monthly charge
  • Anyone paid from abroad who can work with iban details
  • Solo traders who need a simple payout to a bank account

Who should look elsewhere

  • Regular withdrawers to a personal bank account, where a transfer fee applies on each payout; PayPal Colombia charges a monthly fee of $0 on its own account
  • People who need a wide currency list, since Skrill holds 47 and Paysera 30
  • Anyone who wants phone support, since support runs on email, chat and help centre

Fees and currency costs

The monthly fee is €0, so there is nothing to pay for keeping the account open. The charge that bites sits on payouts: a transfer fee plus a processing fee applies on each withdrawal to a personal bank account. That makes the account cheap to hold and more costly to empty, so the sums you take out each month matter more than the account sitting open.

Who runs it

Xolo is operated by Xolo OÜ, registered in Estonia and founded in 2015. The service runs without a branch counter, and contact runs through email, chat and help centre, so questions reach the help centre, by email or in live chat, rather than a phone line, and account matters are handled in writing.

How Xolo compares

Frequently asked questions

What does Xolo cost each month?+

The monthly fee is €0, so there is no charge for holding the account open. The cost that matters sits on payouts, where a transfer fee plus a processing fee applies to each withdrawal to a personal bank account.

What does it cost to withdraw money to my own bank account?+

Each withdrawal to a personal bank account takes a transfer fee plus a processing fee, and that applies every time money leaves. Because the monthly fee is €0, the account is cheap to keep and pricier to empty, so the sums taken out matter most.

How many currencies can I hold?+

The account covers 7 currencies, which is a short list for anyone converting between markets often. Skrill covers 47 and Paysera 30, so a wider currency range may matter more than the payout charge.

Is Xolo built for freelancers?+

Yes, the intended audience is freelancer and the model is a no monthly fee, so holding the account costs €0. It suits someone billing in a small number of currencies who wants local details for receiving client payments.

What details do I get for receiving money?+

You get iban details for receiving payments, the format most European businesses use. Clients who hold only UK sort code or US ACH details have no matching local rail on the account.

How do I get help if a payment is stuck?+

Support runs through email, chat and help centre, so you can email, use live chat or read the help centre. There is no phone line in that mix, which matters if you need a blocked payment sorted quickly.

Who runs Xolo and where is it based?+

The account is run by Xolo OÜ, registered in Estonia and founded in 2015. It is an online service with no branch counter, and account questions are handled in writing or in live chat rather than by phone.

Sources

  • xolo.io/zz-en/about checked September 26, 2026

    Backs: Founded

    “We've come a long way since we first launched in 2015”

  • xolo.io/zz-en/go checked September 26, 2026

    Backs: Audience, Local account details, Support channels, Transfer fee

    “Xolo Go is a perfect solution for... Independent contractors offering professional services, Freelancers looking for a no-strings-attached way to invoice clients”

  • xolo.io/zz-en/pricing checked September 26, 2026

    Backs: Currencies, Pricing model, Monthly fee

    “VAT-compliant invoices in 7 currencies”

  • xolo.io/zz-en/terms checked September 26, 2026

    Backs: Headquarters, Legal entity

    “Xolo OÜ, a company duly established and existing under the laws of the Republic of Estonia, registry code 12844111, address Paju 1a, Tartu, Tartu county 50603, Estonia”

Compiled from 4 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Licence type, Deposit protection, Currency conversion fee.

Xolo

Freelancers who want a monthly fee of €0 and only a handful of currencies

8.9/10See alternatives